Tyrie demands Commons recall for RBS in ‘asset stripping’ row

RBS apologised for misleading MPs during the hearing over whether GRG was a 'profit centre'Matt Cardy/Getty Images

Royal Bank of Scotland must explain to MPs whether it misled them over the activities of its global restructuring group, Andrew Tyrie said yesterday.

The most recent chairman of the Treasury select committee said that RBS should be recalled during the next parliament to explain the findings of an investigation by The Times into GRG, which found that RBS had used the division to squeeze businesses in order to shore up its balance sheet.

GRG was supposed to nurse troubled companies back to health, but it is accused instead of pushing them towards failure. RBS has insisted that it “would never get any advantage from destroying a customer”.

Derek Sach, the former head of GRG, told the committee last year that while “more foreclosure” in…